A handful of Korea’s major institutional investors, including Allianz Life, plan to invest about 96 billion won in Apple’s building in Silicon Valley. According to industry sources on March 13, the nation’s four major institutional investors, including Allianz Life, decided to invest $83 million in “410-430 North Mary Avenue” located in Sunnyvale.
They will make the investment through a real estate fund which will be created in mid-March by Koramco Fund, a specialist in operation of real estate funds. With a maturity of five years, the fund would generate an annual yield of 4.58 percent.
America’s real estate investment firm Tristar Capital acquired the building from Rockwood Capital for US$290.7 million last month.
The office building is now used 100 percent by Apple Inc. It is a complex consisting of three three-story buildings, with a total floor space of about 60,000 square meters. Built as Boeing’s office building in 1989, it was renovated during the 2008-2010 period.
Korea Investment Corporation (KIC) will open its third overseas office in Singapore as early as August in its push for alternative investments in Asia, according to a local newspaper report. The opening of a foreign office will come six years&hellip
South Korea’s Hanwha Asset Management Co. Ltd. will launch three global funds for infrastructure, real estate and private equity investments, with $1 billion commitments from two insurance units of its parent group. Hanwha Life Insurance Co. Ltd. and Hanwha General&hellip
An investment firm of South Korea’s Samsung Life Insurance Co. Ltd is forming a blind-pool real estate fund worth around 500 billion won ($443 million) with commitments from other Samsung financial units to acquire a building of the Organisation for Economic Co-operation&hellip